Strategy. The Fund invests mainly in equity securities of issuers in the U.S. and foreign countries. In addition to common stocks, the Fund can invest in other equity or equity equivalents securities such as preferred stocks, convertible securities, rights or warrants. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depository Receipts (ADRs) or similar depository arrangements. The Fund typically invests in a number of different countries and can invest in any country, including countries with emerging markets (i.e., those that are generally in the early stages of their industrial cycles). The Fund normally will invest in at least four countries, including the U.S. The Fund is not required to allocate … Show more… The Fund invests mainly in equity securities of issuers in the U.S. and foreign countries. In addition to common stocks, the Fund can invest in other equity or equity equivalents securities such as preferred stocks, convertible securities, rights or warrants. The Fund may also invest in foreign securities that are represented in the United States securities markets by American Depository Receipts (ADRs) or similar depository arrangements. The Fund typically invests in a number of different countries and can invest in any country, including countries with emerging markets (i.e., those that are generally in the early stages of their industrial cycles). The Fund normally will invest in at least four countries, including the U.S. The Fund is not required to allocate any set percentage of its assets to any particular country or geographic region. However, the Fund currently emphasizes its investments in developed markets such as the United States and Western European countries. The Fund is not required to allocate any set percentage to seek capital appreciation or income. The Fund does not limit its investments to companies in a particular capitalization range, but currently invests a substantial portion of its assets in small- and mid-cap companies. The Fund considers small- and mid-cap companies to be those that have a market capitalization, at the time of purchase, within the range of market capitalizations included in the MSCI ACWI SMID Cap Index during the most recent 11-month period (based on month-end data) plus the most recent data during the current month. A companys market capitalization is the value of its outstanding stock. The capitalization range of the index is subject to change at any time due to market activity or changes in its composition. The range of the index generally widens over time and is reconstituted periodically to preserve its market cap characteristics. The Fund can invest in derivative instruments. The Fund may use derivatives to seek to increase its investment return or for hedging purposes. The Fund is not required to use derivatives in seeking its investment objective or for hedging and might not do so. The Funds portfolio managers evaluate investment opportunities using a bottom-up investment approach. This approach includes fundamental analysis of a companys financial statements, management record and structure, operations, product development and industry competitive position. In addition, the portfolio manager may also look for companies with conservatively-capitalized balance sheets, high and consistent internal rates of return, and a favorable market position within healthy and growing industries. These factors may vary in particular cases and may change over time. The portfolio managers consider the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends. The portfolio managers monitor individual issuers for changes in the factors above, which may trigger a decision to sell a security. Although the Fund emphasizes investments in equities, it may also invest in debt securities issued by U.S. and foreign companies and governments or their agencies. The portfolio managers investment process does not typically include debt securities in its universe of investment opportunities. In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund may engage in active and frequent trading of portfolio securities. Show less